Kering said on Wednesday the coronavirus epidemic in China could heighten uncert...
) said on Wednesday the coronavirus epidemic in China could heighten uncertainties for the luxury goods market, as the group posted higher-than-expected sales for the fourth quarter of 2019, helped by its star brand Gucci.
Last year Kering, like other luxury labels, managed to offset a sharp decline in sales in Hong Kong, due to months of protests in the Chinese-ruled city, thanks to strong growth in mainland China. Kering’s revenues rose 13.8% to 4.36 billion euros in the October to December period, up 11.4% on a like-for-like basis, which strips out currency changes and acquisitions.
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